As a result, some transactions that don’t meet these requirements will be declined by banks or card issuers. This directive requires banks, financial institutions, and gateways to obtain user approval by conducting transaction notifications, e-mandates, and Additional Factors of Authentication (AFA) before the transaction can be completed.
The Reserve Bank of India has issued a directive that will affect purchases in India initiated via credit cards and debit cards for auto-renewable subscriptions. Starting in October 2021, regulatory requirements in India will apply to the processing of recurring transactions.
